Finance

U.S. Treasury yields recovered from early session lows to end higher as fresh labor data suggested the job market remains resilient. The 10-year yield rose to approximately 4.37%, reflecting investor concerns that persistent economic strength may delay potential interest rate cuts by the Federal Reserve.

Semiconductor stocks experienced significant price swings, led by a 10% decline in Arm Holdings after management warned of weakening demand in the smartphone market. While companies like Nvidia and Qualcomm saw intraday gains driven by continued artificial intelligence enthusiasm, broader sector pressure emerged from supply chain worries and profit-taking.

Coinbase shares fell in post-market trading after the company reported quarterly transaction revenue that failed to meet analyst expectations. The results highlighted the challenges of declining trading volumes and a broader slump in cryptocurrency prices earlier in the year, despite the firm's efforts to diversify through subscription and stablecoin services.